Consensus Mechanism

The process by which nodes in a blockchain network agree on the validity of transactions and the current state of the blockchain. Before transactions reach consensus, they undergo initial verification by network nodes for completion and correctness. Once verified, transactions enter a memory pool awaiting inclusion in a block. When a block is proposed, nodes independently validate its authenticity and add it to their copy of the blockchain, ensuring network synchronization. Common consensus mechanisms include Proof-of-Work (PoW) and Proof-of-Stake (PoS).